Amazon burns cash, Intel flags weak PC demand as AI boom's costs ripple across markets
NEW YORK: Wall Street’s concerns over the cost of the artificial intelligence (AI) boom escalated after the market closed on Thursday, as results from Amazon and Intel showed that the infrastructure race was not only straining the technology industry but also affecting consumers.
Wall Street's worries over the AI boom's financial cost intensified after market hours on Thursday, as Amazon and Intel's reports revealed the infrastructure race was straining the tech industry and impacting consumers. Amazon's excessive data center spending and projected sales below expectations have made the once-debt-light tech giants major borrowers.